Orogen Royalties estimates 2025 revenue at $13.1M

Mr. Paddy Nicol reports OROGEN REPORTS RECORD 2025 FINANCIAL PERFORMANCE AND POSITIONS FOR CONTINUED GROWTH IN 2026 Orogen Royalties Inc. has released preliminary and unaudited financial results for its fourth quarter and year ended Dec. 31, 2025. All figures are stated in Canadian dollars unless otherwise noted. 2025 year-end record revenue Orogen is pleased to report record total revenue of $13.1-million for the year ended Dec. 31, 2025, up 32 per cent from $9.9-million in 2024, including: 22-per-cent increase in Ermitano royalty revenue of $9.6-million (2024 -- $7.9-million); 114-per-cent increase in prospect generation revenue of $3-million (2024 -- $1.4-million). The company is pleased to report a preliminary pretax net income of $7-million (2024 -- $4.3-million) for the year ended Dec. 31, 2025, up 63 per cent from 2024. Preliminary after-tax net income was $4.1-million (2024 -- $2.6 million), up 58 per cent from 2024. After-tax net income includes gain on fair-value adjustment of marketable securities, income tax expense, and other income and deductions. As of Dec. 31, 2025, the company had working capital of $25.8-million (2024 -- $26.9-million) and no debt. Q4 2025 results The company earned $6.3-million (2024 -- $4.3-million) in total revenue for the fourth quarter ended Dec. 31, 2025, up 50 per cent from 2024 and 259 per cent from Q3 2025: 29-per-cent increase in Ermitano royalty revenue of $3.1-million (2024 -- $2.4-million); 94-per-cent increase in prospect generation revenue of $3.1-million (2024 -- $1.6-million). The company is pleased to report a preliminary after-tax net income of $2.5-million (2024 -- $2.6-million) for the quarter ended Dec. 31, 2025. "We are pleased to deliver another record year of financial performance in 2025, with total revenue increasing 32 per cent to $13.1-million and strong growth across both our royalty and prospect generation businesses," said Paddy Nicol, chief executive officer of Orogen. "Consistent production at the Ermitano mine continued to provide a strong royalty base while our prospect generation model delivered exceptional results, more than doubling revenue year over year. Prospect generation is core to our strategy, enabling us to efficiently create new royalties at lower cost and risk while preserving capital. With no debt, significant working capital, an exploration team creating self-funded and alliance-based opportunities and pursuing a pipeline of royalty acquisition opportunities, we expect to continue expanding our royalty portfolio and delivering strong financial performance in 2026." 2026 guidance and update on key assets Ermitano mine Orogen holds a 2-per-cent net smelter return (NSR) royalty on First Majestic Silver Corp.'s Ermitano mine, which forms part of the Santa Elena mine complex in Sonora, Mexico. According to First Majestic, production guidance within the Santa Elena complex for 2026 is 64,000 to 71,000 ounces gold and 1.3 million to 1.5 million ounces silver. Orogen estimates that over 90 per cent of the production from the Santa Elena mine will come from the Ermitano mine. This would result in royalty revenues between $7.1-million ($5.1-million (U.S.)) and $10.3-million ($7.5-million (U.S.)) based on gold price of $4,290 (U.S.) per ounce and silver price of $52 (U.S.) per ounce. Qualified person statement All new technical data, as disclosed in this press release, have been reviewed and approved by Dr. Laurence Pryer, PhD, PGeo, vice-president, exploration, for Orogen. Dr. Pryer is a qualified person as defined under the terms of National Instrument 43-101. Certain technical disclosure in this release is a summary of previously released information and the company is relying on the interpretation provided by the relevant referenced partner. Additional information can be found on SEDAR+ or EDGAR. About Orogen Royalties Inc. Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The company's royalty portfolio includes the Ermitano gold and silver mine in Sonora, Mexico (2.0-per-cent NSR royalty) operated by First Majestic Silver. The company is well financed, with several projects actively being developed by joint venture partners. We seek Safe Harbor.